Win a Lamborghini for 0.00056 BTC

[winalambo]

Not a fan of raffles except when it's for fun, and this seems to fit the bill. Crypto's good fun and you mix the two together you get a veritable salsa mix. Not sure a Lambo's really that appropriate these days though. More like Ford Fiestas or maybe even 2 Opels.

@OP Not reading through any of the links, got a reason why're you doing this? I mean yeah, to help charities and some. But why the hassle of a raffle and all that regulatory and provably fair nitty gritty? Got to be some other itch to scratch!

After the last raffle there was a huge amount of people reaching out to me to raffle their houses or cars or even private islands but alongside this a lot of people copied the model and attempted to raffle their houses. For various reasons most of these new raffles have failed to raise enough money. Ideally what I would like to do is see if this model can scale from a single property to multiple properties and become disruptive in that sense. The logic here is to start small and rebuild a users base and eventually build up to larger raffles or a high frequency of smaller raffles.

Some of the logic also applies to other long term projects I'm working on, they look at crowdfunding in a more conceptual sense as a potential mode for economic growth, social roi and potential new democratic models. These projects are also much longer term, so raffles are a nice and simple format and also present the opportunity to create charitable donations along the way.

Its also really appealing that at scale property raffles can really help solve peoples problems in the face of bankruptcy and create a set of winners that excludes the bankers.

[1714798886]

1714798886

[winalambo]

There is still the question of house edge plus the price changes constantly. I understand that you can literally win a lambo for 2 dollars and it is just a good bit of fun if you wish to do hope for something like that (I would definitely find it incredibly entertaining if I could get the car here but it is not that much easy to send a car from nation to nation so I don't know how it would work even if I win) but like rhavar said it is incredibly high house edge. You are getting over a million dollars in ticket entries whereas spending a lot less than that for giving away the car. Maybe if the price was totaled at something like 700 thousand euros or so (at least 750 thousand if you wanna involve charity) it would have been semi-okay but with 900 thousand euros or so, it makes it a bit unfair.

The 450,000 sales is just a max limit, that would consist up up to 400,000 for the car and 250,000 cash prize leaving 250,000 for business dev. This doesn't mean that if we only sold 250,000 entries that we wouldn't give a Lambo away, it makes more sense for us to forfeit earnings and instead complete the raffle. In 2017 we declared the house as the price regardless of any additional sales at around £600,000 raised, we also reduced our share as the raffle went on and increased the charitable donation by a further £10,000.

[stomachgrowls]

There is still the question of house edge plus the price changes constantly. I understand that you can literally win a lambo for 2 dollars and it is just a good bit of fun if you wish to do hope for something like that (I would definitely find it incredibly entertaining if I could get the car here but it is not that much easy to send a car from nation to nation so I don't know how it would work even if I win) but like rhavar said it is incredibly high house edge. You are getting over a million dollars in ticket entries whereas spending a lot less than that for giving away the car. Maybe if the price was totaled at something like 700 thousand euros or so (at least 750 thousand if you wanna involve charity) it would have been semi-okay but with 900 thousand euros or so, it makes it a bit unfair.

Its not really considerable on having such big edge.We do know the motive of this raffle and its normal to have deductions but wont really be big as this.
One of the reasons why most people wont join up even the ticket is just cheap but odds on hitting will be nearly impossible (usual stuff on raffles).I agree on the post
earlier instead of lambo, why wont consider to be more practical?

[winalambo]

The prize if full target is met is 650,000 euros, this can be claimed as cash only if desired or a car up to 400,000 and 250,000 cash. In what sense more practical?

Cheers

[winalambo]

Heres an article thanks to bitcoinnews.com

https://bitcoinnews.com/enter-the-lamborghini-raffle-for-0-00057-btc-while-helping-charity/

[Patatas]

Are you even for real? This is insane!! I don't know if this is provable fair or if I'm ever going to look at the mathematical aspects but risking  0.00056 for a Lambo is totally worth it!! Take my monies please

[winalambo]

Thanks Patatas, good luck!

[BTCevo]

The issue with this is that most can simply go to a dice site, set a 9900x bet and basically knowing their bet is provably fair and verifiable. And also its instant, no need to wait a few months for a result.

I know that there is a max bet limit with some casinos, but a lambo is currently around $300,000 so about 71 BTC, so its possible to win that much if you are extremely extremely lucky.

The fact that you are donating to a charity is a plus however. I wish you luck in this project and hope it works out for you.

Yes may be this can be compared because the chance might be the same here but what I do know is that there is not all site that offer that huge single payout. I only think about primedice and not other sites again that can over this huge amount of payout. And you must bet around 0.007 btc just to get 71 btc payout. So yes if you are lucky enough but the chances is really slim to get this

Btw for OP if you are willingly to ask for escrow to hold it then it might be really interesting project to bet

[winalambo]

Interesting, Escrow may be possible, I will look into how that could work with fees etc

[KingZee]

Yes may be this can be compared because the chance might be the same here but what I do know is that there is not all site that offer that huge single payout. I only think about primedice and not other sites again that can over this huge amount of payout. And you must bet around 0.007 btc just to get 71 btc payout. So yes if you are lucky enough but the chances is really slim to get this

Btw for OP if you are willingly to ask for escrow to hold it then it might be really interesting project to bet

LOL, ESCROW. Holy shit dude. I'd bet my pants that more than half the legendary users on this forum will scam exit with that amount of money in btc. Fuck man, what kind of people do you think type behind these accounts? Saints? Escrows scamming people has happened over, and over, and over on this forum and yet people seem to think once someone is trusted, they are bound by a holy contract to not lie or steal ever again.

Don't use any escrow OP, it's your money, that's as trusty as it gets. Chances of you scamming people off 2$ each is still existent, but unless your pic is photoshopped and you're not the real owner of the website, and/or unless those news articles are fake information (where both cases are a little too unlikely imo), then you have no reason to scam on this one. Hell you probably make more profit being legitimate than doing that, if you manage to gather enough people for the raffle.

Only way to escrow a raffle this big would be to have at least 6 or 7 people share keys to a multi-sig address, but it's going to be way too complicated, and it's just plain stupid to suggest an escrow for this.

[tokeweed]

Is this the car in question?

Even i am ready to buy this LAMBORGHINI for £2 for my child

Does the Lambo include the child?  I think I know a childless couple or two who could be interested in having such a little cute boy in a tux.

[winalambo]

Yes may be this can be compared because the chance might be the same here but what I do know is that there is not all site that offer that huge single payout. I only think about primedice and not other sites again that can over this huge amount of payout. And you must bet around 0.007 btc just to get 71 btc payout. So yes if you are lucky enough but the chances is really slim to get this

Btw for OP if you are willingly to ask for escrow to hold it then it might be really interesting project to bet

LOL, ESCROW. Holy shit dude. I'd bet my pants that more than half the legendary users on this forum will scam exit with that amount of money in btc. Fuck man, what kind of people do you think type behind these accounts? Saints? Escrows scamming people has happened over, and over, and over on this forum and yet people seem to think once someone is trusted, they are bound by a holy contract to not lie or steal ever again.

Don't use any escrow OP, it's your money, that's as trusty as it gets. Chances of you scamming people off 2$ each is still existent, but unless your pic is photoshopped and you're not the real owner of the website, and/or unless those news articles are fake information (where both cases are a little too unlikely imo), then you have no reason to scam on this one. Hell you probably make more profit being legitimate than doing that, if you manage to gather enough people for the raffle.

Only way to escrow a raffle this big would be to have at least 6 or 7 people share keys to a multi-sig address, but it's going to be way too complicated, and it's just plain stupid to suggest an escrow for this.

I was thinking along the lines of escrow.com as an acting client account (forgot this is the crypto everything for the moment)!

[KingZee]

I was thinking along the lines of escrow.com as an acting client account (forgot this is the crypto everything for the moment)!

I mean I'm just trying to be on your side for a bit here, I don't think an escrow will add any value. It's because I don't believe there's someone that will say : "I would trust escrow.com with 2$, but I wouldn't trust him with 2$." If they DO think so, I'm sure for their sanity, that they're better off not betting off that two bucks anyways.

On the other hand, if you already have the money, and would like to prove that you do, I'm sure there are a lot of other ways to do so, and I can agree that it might raise more interest in your promotion.

Out of curiousity, how long did it take your to raise the the money for the house in the articles? How much did you raise and how many people participated?

[winalambo]

Thanks KingZee

Re the house, it took 6 months and 1 week, approx 106,000 entrants who purchased the 500,000 entries and 13,500 free entries. Around 6 weeks was flatlining due to PayPal issues and the entrants were restricted to UK only after the first month, also no credit card access, so only people with funds in a PayPal account. One entrant spent in the region of £10,000. The highest level in one day was day two where around £102,000 came in. I could still see foreign entry attempts that failed, and around 6 weeks prior to finishing the entry level would have exceeded £1.2 million, although obviously this was capped by us to 1 million.

[tortic25]

I totally agree with you on the provable fair side, one issue at the moment is merging that side of things with the legal side, Im sure its not overly complex in itself, however just getting to this stage has taken a while with payments, agreements etc

Hopefully beyond this prototype we can expand in these directions, but also need to consider that the whole raffle wont be crypto dependent as we will introduce fiat payments very soon.

Cheers

looking at both photos, i realized that the guy in those photos had no eyebrows in either one.

so now i know that you're the real deal, can you raffle my virginity.

[winalambo]

I totally agree with you on the provable fair side, one issue at the moment is merging that side of things with the legal side, Im sure its not overly complex in itself, however just getting to this stage has taken a while with payments, agreements etc

Hopefully beyond this prototype we can expand in these directions, but also need to consider that the whole raffle wont be crypto dependent as we will introduce fiat payments very soon.

Cheers

looking at both photos, i realized that the guy in those photos had no eyebrows in either one.

so now i know that you're the real deal, can you raffle my virginity.

haha lets do this

[BTCevo]

Yes may be this can be compared because the chance might be the same here but what I do know is that there is not all site that offer that huge single payout. I only think about primedice and not other sites again that can over this huge amount of payout. And you must bet around 0.007 btc just to get 71 btc payout. So yes if you are lucky enough but the chances is really slim to get this

Btw for OP if you are willingly to ask for escrow to hold it then it might be really interesting project to bet

LOL, ESCROW. Holy shit dude. I'd bet my pants that more than half the legendary users on this forum will scam exit with that amount of money in btc. Fuck man, what kind of people do you think type behind these accounts? Saints? Escrows scamming people has happened over, and over, and over on this forum and yet people seem to think once someone is trusted, they are bound by a holy contract to not lie or steal ever again.

Don't use any escrow OP, it's your money, that's as trusty as it gets. Chances of you scamming people off 2$ each is still existent, but unless your pic is photoshopped and you're not the real owner of the website, and/or unless those news articles are fake information (where both cases are a little too unlikely imo), then you have no reason to scam on this one. Hell you probably make more profit being legitimate than doing that, if you manage to gather enough people for the raffle.

Only way to escrow a raffle this big would be to have at least 6 or 7 people share keys to a multi-sig address, but it's going to be way too complicated, and it's just plain stupid to suggest an escrow for this.

There is still tons of good escrow that exist and well trusted with so many good project still on. And why do they want to get those money away? I know if this is real, then this is really big amount but if there is some fee included then they will of course do it for you. Besides, if OP are holding it then he should give some proof that he is holding it

By asking 6-7 people to hold just for one key to that, the chances is much bigger to scam and they will get it equally

[winalambo]

Yes may be this can be compared because the chance might be the same here but what I do know is that there is not all site that offer that huge single payout. I only think about primedice and not other sites again that can over this huge amount of payout. And you must bet around 0.007 btc just to get 71 btc payout. So yes if you are lucky enough but the chances is really slim to get this

Btw for OP if you are willingly to ask for escrow to hold it then it might be really interesting project to bet

LOL, ESCROW. Holy shit dude. I'd bet my pants that more than half the legendary users on this forum will scam exit with that amount of money in btc. Fuck man, what kind of people do you think type behind these accounts? Saints? Escrows scamming people has happened over, and over, and over on this forum and yet people seem to think once someone is trusted, they are bound by a holy contract to not lie or steal ever again.

Don't use any escrow OP, it's your money, that's as trusty as it gets. Chances of you scamming people off 2$ each is still existent, but unless your pic is photoshopped and you're not the real owner of the website, and/or unless those news articles are fake information (where both cases are a little too unlikely imo), then you have no reason to scam on this one. Hell you probably make more profit being legitimate than doing that, if you manage to gather enough people for the raffle.

Only way to escrow a raffle this big would be to have at least 6 or 7 people share keys to a multi-sig address, but it's going to be way too complicated, and it's just plain stupid to suggest an escrow for this.

There is still tons of good escrow that exist and well trusted with so many good project still on. And why do they want to get those money away? I know if this is real, then this is really big amount but if there is some fee included then they will of course do it for you. Besides, if OP are holding it then he should give some proof that he is holding it

By asking 6-7 people to hold just for one key to that, the chances is much bigger to scam and they will get it equally

The funds are automatically converted to Euro's, from there they go to a standard bank account, in that sense it would be very difficult to provide proof. The flip side is that it would be insane to do anything untoward with the funds being in the public eye.

[STT]

The lawyer handling the money would be one kind of escrow I guess, like a house sale done in cash .    I'd worry about the amount of tickets and effective odds more then an outright loss, that must be tempting to just keep selling as many entries as possible.     One way to handle that is to allow a scale up of the prizes, where they throw in a Ferrari as well if enough tickets are there but I understand its already set now.

As a primary car sale in UK is this non taxable btw on a personal basis.  I know classic cars are exempt from CGT

[winalambo]

The lawyer handling the money would be one kind of escrow I guess, like a house sale done in cash .    I'd worry about the amount of tickets and effective odds more then an outright loss, that must be tempting to just keep selling as many entries as possible.     One way to handle that is to allow a scale up of the prizes, where they throw in a Ferrari as well if enough tickets are there but I understand its already set now.

As a primary car sale in UK is this non taxable btw on a personal basis.  I know classic cars are exempt from CGT

Exactly, we used a solicitor client account on the house sale.

The model for this is exactly as you mention, the raffle scales up, if insufficient entries are sold the prize is purely cash, the next level is a car (can be purchased anywhere in the world), then full prize would be car + cash or an all cash option.

There would be no tax exemption as the car would be purchased for the winner.

RE tickets, there is a max cap of 450,000 to sell, this caps any profit. We can adjust our margin to 0% potentially to help the prize along. In the house draw we adjusted our share down from 30% to 5% gradually, so in the event the house wasn't given as the prize our share grew smaller and the cash pot for the winnner grew larger.